As businesses grow in size and complexity, companies need to take a close look at their next generation of leadership. In family-owned businesses, founders often preferred to elevate family members into top roles. However, in any type of business, there are instances where a groomed successor with the required skills can’t be found in-house. Over the course of this discussion, we’ll address what leaders need to consider when it comes to succession.
- Pros/cons of internal candidates
- Requirements of the outside CEO
- What the company can do to aid the success of an outside CEO